Legendary gold trader Jim Sinclair, who called the top of the last bull market in gold to the day, liquidating his entire personal gold position overnight the day gold topped, has come out and officially stated that gold will make a significant long term bottom in the next month.

Specifically, Sinclair states that gold will place a bottom between today, 2/28, and 3/27, and that Thereafter gold is released to the upside which will be a minimum of $3500.

Considering Sinclair predicted gold would trade at $1650 in 2011 (which it did) when gold was trading in the upper $200’s back in 2001, we would suggest paying attention to Sinclair’s latest major gold call. You can bank on the fact that the Morgans and Goldmans sure are.

The bet on the short of gold side is that the Sequester takes place. I have felt that the gold market’s longest period of reaction possible would end on my birthday, March 27th. That puts it directly in place of this wager in time.

Regardless of whether or not Sequester occurs, I stand by this timing assumption that I have held since this decline started.

Many who I know and asked me in private know this statement to be true. I know that this is read by just those that are at the heart of this decline.

The earliest date of the end of the decline is the 28th of February and the longest period of pressure is until the 27th of March. Thereafter gold is released to the upside which will be a minimum of $3500.

Defend yourselves because today was a wager on the Sequester occurring. Regardless, do not give away your position in either gold or shares that are fully paid for. Margin is madness in gold because the volatility is only starting.

Please note the last interview I gave was about 9 months ago. I have a planned interview with Eric King of KingWorldNews.com on Friday of this week. It will have significance as it is a statement. Please remember this in the future.

If you can get past how horrifying it is, the looming “sequestration cuts” crisis is fascinating. It’s like watching a bunch of gambling addicts play craps by throwing dice into a four-dimensional wormhole. There are so many variables that neither side can possibly know the true outcome of a failure to make a deal – which means the only certainty is that what we’re watching is irresponsibility on an epic scale, wherein both of our major political parties seem to prefer government by random outcome over one managed by sensible compromise.

Obviously, most of the problem was originally driven by the intractability of a Republican Party energized politically by its Tea Party base, which preferred the nuclear option of a default or a government shutdown to increased debt and/or new taxes. These fine folks taped sticks of dynamite to their chests and threatened to blow the government, its credit rating and our entire budget mechanism to the moon if we didn’t make massive spending cuts – a wild ploy that may not have made a ton of patriotic sense given the catastrophic possibilities of, say, a default, but certainly helped the party solidify its relationship with its base.

Watching the original Republican debt-ceiling warriors furiously shake their fists over this business reminded me of that great line by Claude Rains in Casablanca, when his Captain Renault character tells Humphrey Bogart why he had to be so rough in tossing Rick’s nightclub in search of the missing letters of transit. “I told my men to be especially destructive,” Rains said. “You know how that impresses Germans.”

This “let’s blow up the American credit rating” ploy impressed hardcore anti-spending types in the same way. It was crazy, but maybe only slightly more crazy than both of the parties have consistently been for most of the last 20 years, when the two sides have continually failed to hammer out workable budgets and instead have mostly just let the national airplane fly mindlessly forward using the laziness-enabling autopilot mechanism of a continuing resolutions, or CRs. Despite the fact that working out budgets is mostly what we hire members of Congress to do, they seem to have a terrible time doing it on time, and instead routinely rely upon the CR process (in which the two sides basically agree to put things off until later) to keep funding levels static for some ludicrously short-term period like six months.

The failure to work out sensible budgets makes it impossible for government agencies to make long-term plans, and instead leaves them scrambling to spend money in the short term. It’s an incredibly stupid way of doing business and if these people weren’t on television so often, ranting and raving like baseball managers arguing a safe call at the plate and playing to the home crowd by pointing fingers at the other side, they would probably just do what members of Congress traditionally did in the pre-mass-media age, which is quietly and (mostly) sensibly work things out, getting as much as they could for their own constituents without crossing the line into antipatriotic acts of self-destruction – like a national default, for instance.

But since those days of sensible bipartisanship are gone, what we’re left with is this. Both sides decided to play political chicken with our economic futures. Certainly the Republicans were more willing to pull the pin here, but the Democrats also gambled.

That push up is not for a traders. Traders cutting the real price. Crimex also. Gold will blow…like a skyrocket. Mayge yuat for a short term but numbers are…
3500 – 4.500 than correction 2500..and lift off to 10.000 USD…in phyisical…paper is bull…s

JS didn’t get anything wrong. He called gold to the DAY in 1980 and said the next day “don’t come back for 20 years.” He was calling $1650 in 2001 when gold was $250 and the USD was at all time highs. In 2007 when gold was $800, he called a date in 2011 for $1650 and was only a few months off. If Jim Sinclair says the bottom is at hand and will be in the rearview mirror by his birthday, that’s good enough for me. The chart and technicals seem to support this too. This power downtrend in miners and PMs cannot go on forever.

He said it wouldn’t come back for 15 years. Good enough for me. I think he’s generally within 20 to 30% of the mark when it comes to timing. For pricing, and calling tops, I think he’s bang on. He’s also a market mover. It’s significant that he’s been on KWN this week. Certain interested parties will be taking note.

Most of the pundits and guru’s have been wrong in their predictions. I am pulling for Jim Sinclair to be right. However, if he is wrong than he loses credibility with me. Actually no one knows the future and cannot be right all the time. But, if he wants to retain his Mr Gold title than he needs to be right this time. I believe he has a good shot at it. If you read his recent postings the main theme seems to be to do nothing. Just ride this out. The real question is when the so called turn happens. I believe that the hedge funds and bankers read his stuff. The crooks have been feeding at the trough for a long time. They have made a lot of money. Maybe they are getting ready to trade on the long side now? Or, maybe they will wait a while to go long just to prove Sinclair to be wrong. Taking Sinclair out by proving him wrong may be in the cards. This is a war. We are going to see much higher volitility most likely in the future.

@pollokeeper you’ve mentioned in a couple of posts Mar 28th I believe, I’ve always wondered what you meant by that date, is this the reason? I believe Sinclair will prevail in his prediction as someone else has said, everything is in place for it to happen.

Marchas45. March 27th is the latest day for when Sinclair believes this damn correction will be over and we will start an uptrend. He mentions the time frame between Feb 28 and March 27. The actual significance I am not sure of. His opinion is that the sequester will happen with the federal budget but even if it doesn’t his opinion does not change. Once this correction is over he believes that we will begin the climb towards 3500. Now, this doesn’t mean that we will have a parabolic move. It will happen over a period of years. We have been in a trading range for a long time so this could be very significant for us. This should be very bullish for silver as well so I am very excited about this prospect. Been waiting or eons it seems like to get a real move higher. Remember last year at this time? Silver got as high as 37.50 before getting smashed down? They call it the leap day massacre. My hope is that those types of raids will be behind us for a little while.

Thanks @pollokeeper I had a feeling that’s what you meant but I wasn’t sure. If it happens tomorrow or next year is no concern to me as I know eventually it’s going to happen and for the first time in my life my inside has been telling me to Stack and Prepare. It’s also the first time I’ve ever had a substantial, shall we say, Savings. Lol Thanks again..

Marchas45 I think its going to happen and I am not even holding Sinclair to the exact dates. This year is going to be the year that all of us should be able to break even on our underwater silver. As you know, almost everyone who bought silver in the last 23 months is underwater on their investment. I know that doesn’t make any difference to you but it does to me. I want to sit back and watch new folks enter the market at the new higher prices that will surely come sometime this year. Its been a real tough couple of years for silver investors.

Mr. Jim is a legend…you must read a little more. He was the king at 1980 parabolic spike…and he is king in this moment. Third phase in bull market is volatile, strong and relative short. Gold is now at 1600 if he goes beyond 5000 in parabolic and then dropped for 50 %…is gold in 2500. Please find the statistic on Kitco sites..gold and silver..history data 1979 to 1982 AND DON”T BE SO0 STUPID…please

This guy is a legend in his own mind.
He has called a bottom in gold recently at least 50 times. A couple weeks ago the call was to go all in.
Wake up people – he made one great call 30 years ago? SO WHAT

In my mind Mr Sinclair’s statement that we should go all in was irresponsible. But, he made the statement. We are adults here and we have to take responsibility for our actions anyway. Sinclair has some information that we are not privvy to. We have to take it on faith alone this time. Now, his prediction is that gold will find its bottom in March. Higher prices may come later. Just finding a bottom would be a fantastic start so we can move into the next upleg and its corresponding scary volitility. I will ride this out.

At some point, the manipulators are going to have to go net long. What choice have they got?

And how long do you think the fed can go on supplying the bullion banks with gold? They’re being squeezed from both ends now. The vaults are being bled dry, and the shouts for repatriation are getting louder. If the Chinese and Russians are going back to gold, the US had better have some to play with, or it’s game over.

Not a problem. The Gov can use Obamacare to kill off the elderly and then confiscate the gold in their teeth. It’s a win-win with a big bump in Gov gold supply and MUCH less SS bennies to pay out… with tongue only slightly in cheek…

If the spike occurs this month, this year or next, the slowness of these upward trends usually creeps along for a few months and then sees that piling on that brings the average person into the market to buy but not before the selling gets intense.
But before that happens, it’s quite likely that we’ll see some downticks due to other events like major bank failures such as we are see in Europe. There’ve been several large banks that failed recently in Italy, Spain, France and Belgium. That cresting bow wave of bank collapse will force gold downwards. The tipping of the loan and asset bases of these banks are proceeding quickly, like dominos. Gold will be sold to bring cash into these banks.
It will get much worse in the Spring and summer as corporate earnings, profits and tax revenues drop, along with a serious ramping upwards of unemployment. Those citizens who still have gold will sell precious metals to pay the bills, just like they have been in Greece and Spain. Currency controls are in place in the PIIGS and France, limiting withdrawals and cash payments to as little as $300 Euros. Bank shut downs will curtail access cash even more, forcing black market transactions. Gold will be dumped due to these factors and likely at wholesale prices.
Italy and France, the dou of Too big to Fail Economies, will cause some terrible problems in the Eurozone, pulling down Germany and many of the smaller peripheral countries due to plant shut downs, civil strife and some hard violence. The shouts of gold repatriation will be drowned out by the shouts of scandal when those countries demanding will be told there is no gold. Central banks will lose trust with each other and then it’ll be ‘every man and bank for itself’
What central bank and government gold there is will be sold to fill the treasuries and coffers when tax revenues collapse. Repatriation? Not likely. Gold won’t available to ship back to its home countries since the liquidation of gold will take precedence. These collateral liquidation events will used to save the banks and central governments from their bad debts and bankruptcy. Europe will be on fire due to this by the latter part of the summer, when things get hot in this zone.
That’s my prediction for 2013.

I don’t think that gold selling by individuals to pay bills is going to make much difference. I am siding with Sinclair on this one. This is going to be called Sinclairs bottom. We will see the usual high volitility but gold is going to trend higher in 2013. How high? I don’t have a clue. Silver could fly higher in an effort to touch 50 this year but I don’t think it will stick. It’ll drop back significantly. Just my guesses.

Doomsday fatigue, much like the green fatigue headline from Drudge. Its up, its down, its up, its down. I guess that is the way of a market where price is determined by demand and supply.

We all talk about how little supply there is to meet the demands of industrial use, yet we expect that industrial use to continue during a collapse? If we experience the world wide monetary collapse that everyone is talking about, that will curtail most of the need for industrial silver. Therefore, all that will be remaining is the that which is used for money. At least that is how I see it.

I am sure silver will be used as money and as a store of value, but I cannot say I am confident of the meteoric rise in its value.

“Italy and France, the dou of Too big to Fail Economies, will cause some terrible problems in the Eurozone, pulling down Germany and many of the smaller peripheral countries due to plant shut downs, civil strife and some hard violence.”

My bet is that Germany will do all that it can to save the euro and the EU but when it becomes obvious that these cannot be saved, Germany will do the sensible thing, opt for self-preservation, and bail out of that plane as it is going down in flames.

All…Sinclair knows and understands more about what really is going on than most anyone on the planet. Notice he used the word “released”. He cuts to the solution when he emails the masses – keep stacking. If you want to take the deep dive and drill down on what’s really going on with central banking, gold flows, the Euro, the Dollar, and the end game timeline start by digesting FOFOA’s latest blog post titled ‘Checkmate’. That will lead you to ANOTHER and FOA. This is PhD level material. It’s not for everyone.

Notice who was just confirmed as our new Treasury Sec., another one of the boyz, no matter his nefarious past the Senate gave him swift approval.

Those of us on here who are adults are well aware that nothing is written in stone and that when people with LONG experience in the PM arena speak, they are giving us their best educated guess as to what will happen and when. While they are very often correct or at least close, they will miss from time to time. So? No one is perfect and God does not share his script of the future.

With all the “noise” I’m seeing about the European collapse and banks failing in Italy, Spain, etc., where do you think more money is going to go? The US Dollar! And it’s going to be that way for awhile. US Dollar vs. PMs….. the US Dollar is going to win that battle for the foreseeable future. Any newbies coming to this site, do NOT go all in on PMs.

Bad advice, fiat and paper with counter party risk are foolish to hold at this point. Both are unstable and could crash overnight and be worth zero. PM’s may go down in price compared to fiat but they will maintain real physical value.

Not to critique but a few weeks ago when things were quite a bit higher than they are now he said that PMs would be significantly higher by his birthday at the end of March. Now he is saying expect a low before that time. This isn’t quite the opposite of his previous prediction but it is certainly is different.

It’s not whether one guru or pundit gets right or wrong today, yesterday or tomorrow, it’s the fact that we can cull some good intel from these folks who have decades of experience; that’s pretty good to go with. I’ve yet to see someone who’s 100% or even 50% right with their calls and that includes Sprott, Sinclair, and a dozen others who make their claims here and there. Sifting data allows us to draw our own conclusions, make decisions and attempt to get a handle on the moment.

Exactly, AG. Saying that someone should be or is a guru and is therefore infallible is ridiculous. Sifting data and info of all kinds is a lot like panning for gold. We find a lot of sand and some gravel before we ever spot that tiny golden flake or pinch of gold dust. It’s there, though. We just have to WORK at getting it. There are no gimmees in this.

Interesting posts. Probably could take a bit here and there out of all of them and get this thing right on! Jim Sinclair is a sincere, solid person on gold and I wouldn’t throw him out with the bathwater just yet. Of course, I am a SILVER BUG, not a gold bug, so all we bugs have to do is extrapolate the 1’s and 0’s to see how (wonderfully) silver will be doing very soon.

Posts like this make me ask questions about which sites I visit, my poor eyes (Bible says to put no evil thing before one’s eyes),
in any case, forgetting that…
I’m in with silverman
The only 100% correct human is Jesus (who is also God )
After that, one has to be humble and respect those who deserve respect, even if they’ve made mistakes.

Here we go ………again as long as TPTB can short to infinity …….the metals & stocks are going …..no whereUntill the SEC & the CFTC ( grows a HUGE pair & does something) about the manipulation we are going …….no whereFace it ……the metals are a scam……stack food…ammo …whatever is usefull for day to day living that is something that they cant manipulate

Lol, maybe so, Yooper. On the other hand, I rather like having some silver and gold around. If they never help me as money, maybe I will melt them down and cast them into bullets. Those will definitely be useful.

Da yooper. Your theory sure seems right most of the time. I believe that the banks and hedge funds will keep doing what they are doing as long as they can make tons of money. They have no loyalty to the Treasury dept. If keeping the price down makes them tons of money they will continue with that strategy. Things could change for them and then they may just decide to trade on the long side to make tons of money. They will do what is best for them, damn the Fed. If the Fed trusts the banks to do their bidding based on patriotism I believe they are making a big mistake. This is all about greed.

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